United Natural Foods on Monday said its president and CEO, Steven L. Spinner, will take over as chairman of the board, succeeding Michael S. Funk following the distributor's annual meeting in December.
Funk, UNFI's co-founder and former CEO, will remain a director of the Providence, R.I.-based company.
“Thanks to Steve’s leadership over the last eight years UNFI has undergone a dramatic evolution,” said James P. Heffernan, UNFI’s lead independent director. “On behalf of the board of directors, we have confidence in Steve’s ability to continue to execute upon UNFI’s strategic vision for growth. I would also like to thank Michael for his exemplary leadership of our Board and his continued guidance, input and leadership.”
Spinner has served as UNFI’s president and CEO since September 2008, when he succeeded Funk in those roles. Over that period, UNFI’s net sales have grown from approximately $3.5 billion in Fiscal 2009 to nearly $8.5 billion in Fiscal 2016.
“I appreciate the Board’s recognition of the company’s success and its confidence in our future,” Spinner said. “We have accomplished a great deal in building our business and developing an incredibly talented team of people and we believe we are beginning to see the results of our strategic initiatives.”
“After 40 years of being involved with UNFI, I am as excited as ever about our future,” said Funk. “Steve and I enjoy a great working relationship and I look forward to continuing to work with him as a member of UNFI’s Board.”